Highlights 5,000 500 Achieved average 2Q12 4,000 400 production of 2,583 boed (88% Corporate Production (BOED) Production BOE/MMShare oil) by adding over 1,700 bbl/d Forest fires of light oil production over last 3,000 300…
Operational Efficiencies 2011A 2Q12A 2012E 80 45 Average production (boe/d) 948 2,583 1 2,400 Annualized Operating Cashflow (Million) Costs and Operating Netback (/BOE) 70 40 Exit production (boe/d) 1,600 2,636 3,000 60…
Asset Overview Steen River (NW Alberta) 100% WI; operated Year round access Light Oil Targets: Keg River Reef Sulphur Point Muskeg Stack Land base: 64,000 net acres (250 sections) Infrastructure established (38 mmcf/d gas and…
Stacked Oil Production at Steen River Depth Zone Fluid Resource Opportunity (m) 25 sections 100 MMbbl OOIP Sulphur 4 HZ wells/sec 800 Oil 4 MMBBL/section Point 100 net 5 wells on production Locations Muskeg 875 Oil First…
Steen River Keg River Overview 00/xx-22-122-21W5 8 MMbbl OOIP 0.5 MMbbl produced 16 MMbbl OOIP 1 MMbbl produced 92 Feet 10 MMbbl OOIP 2.5 MMbbl produced Conventional vertical wells (no fracs required, 10 day…
Steen River Sulphur Point Overview 00/XX-18-122-22W5 SLPP DOL Northern Rim 27 Feet Well Tested: 30 boe/d Eastern Rim 00/XX-27-122-21W5 Western Rim 1st Horizontal IP20: 150 boe/d SLPP DOL Vertical Well: 50 boe/d 2nd…
Steen River Drilling Outlook 2H2012 Step out from existing pools, Drill 8 Wells 2013 Delineate remainder of the Northern Rim, Vertical wells to test both the Sulphur Point and the Keg River; Drill 20-24 Wells 2014+ Develop Keg River…
Steen River Upside Valuation Keg River Sulphur Point Capital (mm) 1.65 2.6 IP30 (bopd) 210 133 Reserves (Mboe) 265 161 F&D (/boe) 6.42 14.92 Rate of Return (%) 430% 82% Recycle Ratio* 10.3 4.0 Payout (yrs) 0.4 0.9 NPV 10 / Well…
Multi Year Drilling Inventory 600 unrisked net locations 450 net locations 150 net location 2013-2018 Steen Muskeg Stack 2013-2015 100 net locations Maxhamish - Chinkeh Sand Steen - Keg River 1.20/Share* 50 net locations 150…
Management / Board MANAGEMENT TEAM Gurpreet Sawhney, MSc, MBA, PEng President & CEO Sean Hayes, PhD, PGeol COO Kirk Boote, PEng EVP Engineering Shelina Hirji, CMA VP Finance Barbara Joy VP Land Doug Wright, PEng, MBA VP Business…
Contact Information INDEPENDENT RESERVE ENGINEERS McDaniel & Associates Consultants Ltd. Gurpreet Sawhney President and CEO AUDITORS Deloitte Dir: 403.767.2949 LEGAL Norton Rose Canada LLP Cell: 403.606.3727 BANKING Alberta Treasury…
Appendix 17
Light Oil Asset Base Steen River (100% WI; operated) Primary Targets: Keg River Reef and Sulphur Point, both are light oil (34 -37 API) Land base: 64,000 net acres Infrastructure established (38 mmcf/d gas and 6,500 bbl/d fluid…
Maxhamish Horizontal Wells 100 sections (38.5% WI in 68,000 acres) Non-Operated OOIP 500 MMbbls; 42 API oil Areal extensive sand with well control from 140+ wells, 25+ cores 6.5 miles Depth: 1600m, Thickness: 4 m Porosity: 16%;…
Amber M a 36,800 net acres with two reservoirs which t u overly each other and both in oil generation r e window o il Jean-Marie Limestone F a Muskwa (Duvernay) Shale i r w a y Jean Marie Muskwa (Duvernay) Shale…